NH Investment & Securities announced on the 24th that it has signed a business agreement with SK Imup, a leading domestic and international nature-based carbon credit company, to jointly promote global greenhouse gas reduction projects.
NH Investment & Securities established a carbon finance team this year and, in January, became the first securities company to invest in a biochar-based voluntary emission reduction project. Going forward, it plans to continuously invest in domestic and international carbon credit projects and actively participate in voluntary and regulatory carbon market trading.
Through this agreement, the two companies plan to jointly carry out SK Imup’s projects in Timor-Leste, including ▲ the distribution of high-efficiency cook stoves and water purifiers ▲ mangrove ecosystem restoration projects.
This project aims to combine SK’s overseas business planning and development capabilities with NH’s financial investment and carbon finance expertise to establish a foundation for sustainable carbon credit projects in the international greenhouse gas reduction process, and to create an excellent greenhouse gas reduction promotion model that contributes to solving various environmental and social issues.
It is expected that securing carbon credits through this project and distributing them in domestic and international voluntary and regulatory carbon markets will contribute to achieving South Korea’s NDC (Nationally Determined Contribution) and promoting carbon neutrality among domestic companies.
In addition to Timor-Leste, the two companies plan to expand cooperation in planning and developing greenhouse gas reduction projects in other developing countries or Least Developed Countries (LDCs).
Jung Young-chae, CEO of NH Investment & Securities, stated, "Since the key to the future carbon market is international cooperation and coexistence, achieving South Korea’s NDC requires expanding advanced carbon reduction project models that match the technologies and capabilities of Korean companies with the carbon reduction needs of various countries overseas. In this regard, we are very pleased to collaborate with SK Imup, which is working to restore ecosystems and forests in developing countries."
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